Amodo Snapped Up by Cambridge Mobile Telematics

By Abraham Joseph -

1 Marh 2023 – Cambridge Mobile Telematics (CMT), a leading global provider of telematics services, announced today that it has acquired Amodo, an award-winning telematics company based in Croatia.

The acquisition brings together two telematics companies with large and growing footprints in Europe, and gives Amodo’s customers access to the most advanced telematics solutions for crash management, claims management, driver behaviour modification and automotive risk management.

Amodo will adopt the CMT name and its CEO, Marijan Mumdziev will become Managing Director of CMT Europe.

CMT now powers over 95 active telematics programmes in 25 countries, including nine in Europe. The world’s leading insurers, automakers, gig companies, fleet operators, and mobility companies offer these programs to consumers with a broad range of experiences and benefits. Users of these programs save money on insurance, become safer drivers by reducing risky behaviors such as phone distraction, and get automatic roadside assistance within minutes after a crash.

“CMT is rapidly expanding its global footprint beyond the United States, where CMT serves 21 of the top 25 insurers,” said William Powers, CMT’s Chief Executive Officer. “We’re strengthening our European efforts by adding Amodo’s expansive market knowledge and deep relationships, and doubling our team in Europe to over 100 people. This will enable more European organisations to realise the incredible benefits of telematics while saving lives on the road.”

“We’re delighted to join CMT and unite behind their vision to make the world’s roads and drivers safer,” said Marijan Mumdziev, Amodo’s CEO, who will become CMT’s Managing Director of Europe. “From try-before-you-buy, to pay-as-you-drive, to pay-per-mile, our team has launched over 50 telematics programmes over the past nine years. We look forward to bringing our capabilities and market expertise in Europe and beyond to CMT.”

I interviewed Mumdziev in September 2020 when the company had about 50 employees and he was planning a series A fundraising round for about $10m. At the time, he described his mission as ‘becoming the go-to vendor for insurance digitisation’. This partnership puts him a great deal closer. You can read this interview here.